Mary ka

Dualstar Entertainment Group, LLC: Mary-Kate and Ashley Olsen | November 17
2009
|
| Business and Management Final Project Written Report |

CONTENTS

I. TABLE OF CONTENTS…………………………………………………………2

II. INTRODUCTION…………………………………………………………………3

III. BODY………………………………………………………………………………5

A. BUSINESS PLAN……………………………………………………...6

i. EXECUTIVESUMMARY…………………………………...6
ii. BUSINESS AND ITS OBJECTIVES………………………7
iii. BUSINESS OPORTUNITY…………………………………7
iv. MARKET……………………………………………………...8
v. PERSONNEL………………………………………………...9
vi. BUYING AND PRODUCTION……………………………...10
vii. PREMISES AND EQUIPMENT…………………………….11
viii. FINANCIAL FORECAST…………………………………...12
ix. FINANCE……………………………………………………..14

IV.CONCLUSION…………………………………………………………………..15

V. REFERENCES…………………………………………………………………..16

VI. APPENDIX………………………………………………………………………..17

INTRODUCTION

For my final project I chose as my entrepreneur, both Mary-Kate and Ashley Olsen, who are Hollywood actresses who also own a multimillion dollar company called Dualstar Entertainment Group. Mary-Kate and Ashley started to act when they were 9 months old in the 1990ssitcom Full House. In 1993, their manager Robert Thorne and their parents founded Dualstar to create a company to produce videos starting the twins. After Full House was over the twins focused on their videos, which became quickly successful, leading to a wide range of products with their names.

They are entrepreneurs because since a very young age they were involved in the business decisions oftheir company and were co-owners. After their 18 birthday they bought out Robert Thorne and became the sole owners of Dualstar. After this event they created two high end fashion lines “The Row” and “Elizabeth and James” in addition to their already existing and very successful world wide brand of products, oriented to 5-12 year old girls, “Mary-KateandAshley” which made them the youngest self-mademultimillionaires in American History. In 2009 they created a new line, only sold on JC Penny, called “Olsenboy” which is marketed to teens and young adults at approachable prices, unlike their expensive high end fashion lines. They are always involved in the business decisions of their company and are the co-presidents of Dualstar Entertainment Group. According to Dualstar Entertainment CEO,Diane Reichenberger, Mary-Kate and Ashley “hold integrity, intelligence and incredible business acumen.” Forbes ranked them as the 11th richest women in entertainment holding a combined estimated net worth of $300 million dollars. And unlike many young celebrities, they are responsible and careful not to over-expose themselves.

Mary-Kate and Ashley Olsen have most, in not all, entrepreneurcharacteristics. They are self-starters, they began their company from scratch and they discovered the “tween” market, they were the ones in charge of taking decisions for their company. They have great judgement, meaning that if they consider that something is good for the company in the long run they will do it and they are not afraid of turning down deals is they feel that in will only help in theshort run or will affect their company’s integrity. They showed commitment, even when they were young and still at school and making films, they attended to meetings and decided on the company’s future. They had initiative to create products for an unknown market, tweens, that later, after their success, became a billion dollar market, and now everyone is trying to sell to them. They haveself-determination; this means that they can take control of everything involving Dualstar and turn events into something that will benefit their business. Finally they have perseverance, they are able to get thought the bad times and come back with new inventive ways of regaining market share and profit.

BODY

Dualstar Entertainment Group is a business that has...